Central Oregon Real Estate Market Report from April 2023

 
 

The Central Oregon housing market continues to display its resilience and adaptability in the face of challenging circumstances.

In Bend, the median sales price for single-family residences maintained a stable trend, a noticeable departure from the recent upsurges in price. This steadiness offers potential buyers a breath of relief in the otherwise skyrocketing market. The number of sales saw an increase, while days on market experienced a slight decline, highlighting the strong demand.

"While inflation remains elevated, its rate of growth has moderated and is expected to decelerate over the remainder of 2023. This should bode well for the trajectory of mortgage rates over the long-term," reported Freddie Mac.

On the other hand, inventory is of concern. Mike Simonsen of Altos Research said, "It's mid-May and inventory is not rising. Still only 420k single-family homes on the market. Last year, demand slowed so quickly that inventory was rising 4-5% per week! If we look at the immediate sales as a percent of the new listings, we can see how quickly demand cooled last spring and again in September when rates spiked over 7%. This year demand isn't cooling at all."

This ongoing inventory shortage keeps the Central Oregon housing market in a tight spot.

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BEND AREA
$669,000
Median Price
10 Days on Market

REDMOND AREA
$469,000
Median Price
19 Days on Market

JEFFERSON COUNTY
$340,000
Median Price
22 Days on Market

SUNRIVER
$839,000
Median Price
9 Days on Market

LA PINE
$399,000
Median Price
64 Days on Market

SISTERS
$695,000
Median Price
27 Days on Market

CROOK COUNTY
$413,000
Median Price
23 Days on Market

 

Thank you to Beacon Appraisal Group for compiling this report. Prepared by Donnie Montagner with information from the MLS of Central Oregon with permission from COAR.

If there is a home that you would like more information about, if you are considering selling a property, or if you have questions about the housing market in your neighborhood, please reach out. We’re here to help.

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Just Listed: Secluded 1.14 Acre Treed Building Site Near Big Deschutes River!

 
 
 

Here's the one you've been waiting for.

Beautiful level treed building site, ready for your plans. No city lights to distract from the evening starlit skies here. Relax to the soothing sounds of the breeze blowing through the pines. A rare opportunity to own 2 adjoining Tax lots totaling 1.14 acres. Build your forever home on the approved lot, site a pole building to store all your toys on the rec lot. Vacation home/Short Term Rental, so many possibilities. Rectangular lots, measuring 100'x250' each. Close to the Big Deschutes River, just a couple miles to all the conveniences neighboring Sunriver has to offer. High lakes, Mt Bachelor, Volcanic monuments, Golf, Hike, Bike, Boat, Kayak, SUP, Canoe, Ski, Snowmobile, Fish, Hunt, right out the front door from this prime locale. It is a mecca for outdoor enthusiasts. Hurry, these properties don't last long. Go walk the property and realize the dream!

Listed by Dean Reese for West + Main Homes. Please Contact Dean for current pricing + availability.

 

Have questions?
West + Main Homes
(405) 652-6635
hello@westandmain.com

Presented by:
Dean Reese
541-977-5202
dean@westandmainoregon.com


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Just Listed: 5-Bedroom Move-in Ready Haven with Mountain Views and Community Amenities!

 
 
 

Nestled in the charming Summit Crest community of SW Redmond, this 3219 SF home boasts 5 bedrooms, 2 1/2 bathrooms, with a family/great room on the main level and a loft/second living space upstairs.

Recently updated with new interior paint, carpet, appliances, and stylish features such as faux beams, barndoor style pantry door, butcher block island, and more this home is move-in ready. Enjoy entertaining or relaxing outdoors with mountain views on the covered back patio with lighting and large daybed style swing. The three car garage offers stained concrete and extra storage space. Conveniently located with easy back roads to Bend and Tumalo, Summit Crest also offers a community park/playground and a great sense of community. This home has it all and is in great condition.

Listed by Rhianna Basye for West + Main Homes. Please Contact Rhianna for current pricing + availability.

 
 
 

Have questions?
West + Main Homes
(405) 652-6635
hello@westandmain.com

Presented by:
Rhianna Basye

503-318-8452

rhianna@homesbyrhianna.com


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Just Listed: Panoramic views abound from this highly upgraded Cassidy floorplan by Pahlisch Homes!

 
 

Panoramic views abound from this highly upgraded Cassidy floorplan by Pahlisch Homes.

Enjoy outdoor living in your recently landscaped yard complete with irrigated sod, gravel, pavers and covered patio with market lights. Watch 4th of July fireworks over Pilot Butte from your own yard! Engineered hardwood floors were extended to all living areas. Gourmet kitchen with solid counters, island and Kitchen-Aid range and dishwasher.The addition of 5 solar tubes supply natural light throughout this open floor plan.. An abundance of storage is provided in the garage with 4 hanging units and a drop down ladder to attic storage. Primary bath is equipped with a double vanity and sizable walk-in closet and water closet for toilet. The second bath includes a tiled shower/bath combination and solid surface counter. Home has been lovingly maintained and shows like new. Ring doorbell and ecobee thermostatListing agent is owner and seller.

Listed by Valerie Ward for West + Main Homes. Please Contact Valerie for current pricing + availability.

 
 

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West + Main Homes
(405) 652-6635
hello@westandmain.com

Presented by:
Valerie Ward

714-742-9749

valerieward97703@gmail.com


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Hardscaping Hacks to Accent Your Home

 
 

Most homeowners focus on the interior when it comes to improving their home's overall look and feel.

However, the exterior of your home can be just as important, and hardscaping is a great way to accentuate the beauty of your property. From adding a new walkway to installing a stunning outdoor fireplace, there are a variety of hardscaping hacks that you can use to enhance the look of your home. In this blog post, we'll take a closer look at some of the best hardscaping hacks that will give your property a unique and timeless look.

Add a Rock Garden
A well-designed rock garden can add an impressive touch of character to your outdoor space. By incorporating natural stones and rocks into your landscaping, you can create an attractive, low-maintenance garden that blends perfectly with your existing surroundings. The best part is that a rock garden is a relatively simple DIY project that won't require much time, effort, or money. With some planning and creativity, you can easily achieve a beautiful, unique rock garden that will stand out in your neighborhood.

Install a Fire Pit
Install a fire pit to transform your backyard into an inviting outdoor hangout spot. Whether you are looking for a warm and cozy spot to relax or a fun activity for the whole family, a fire pit can provide just what you need. With numerous sizes and designs available, you can choose one that matches your desired aesthetic and space requirements. Add comfortable seating around your fire pit to create a space perfect for entertaining guests on cool evenings or enjoying quality time with loved ones. Customize your fire pit to meet your specific needs and style preferences, and create memories that will last a lifetime.

Install an Outdoor Kitchen
Installing an outdoor kitchen not only creates additional cooking space but also adds value to your home. Fortunately, there are numerous options available to suit every budget and preference. For those who enjoy the simplicity of grilling, a straightforward grilling station is the way to go. Those with more elaborate culinary tastes may prefer a deluxe outdoor kitchen with features like refrigerators, sinks, and pizza ovens. No matter which option you choose, designing an outdoor kitchen is a surefire way to elevate your outdoor living experience.

Create a Water Feature
Adding a water feature to your property is an excellent way to introduce a soothing and calming atmosphere to your landscaping. Not only does it create a point of visual interest, but it also provides a multi-sensory experience that can help to reduce stress and spark creativity. Large or small, simple or elaborate, a water feature can be constructed with various materials that suit your aesthetic, from natural stones to modern glass. To elevate the visual experience, incorporating lighting into your design will enhance the ambiance and create an impressive spectacle at night. Whether you're looking for a private retreat or a statement piece, a water feature is a versatile addition to any outdoor space.

Add a Pergola
A pergola is an excellent addition to any yard, providing a shaded area and a touch of sophistication. These structures come in various sizes and can be tailored to meet your specific needs, making them an ideal choice for any homeowner. By incorporating climbing plants like vines or roses, you can create a naturally beautiful look that enhances the overall aesthetic of your property. With so many customization options available, adding a pergola to your yard is a surefire way to transform your outdoor space into a peaceful oasis.

Hardscaping is a great way to enhance the beauty of your property, and there are a variety of options to choose from. Whether you want to create a relaxing backyard oasis or a space for entertaining guests, a hardscaping hack will fit your needs. The possibilities are endless, from adding a rock garden to installing an outdoor kitchen. So, take some time to explore your options and create a unique and timeless look that you'll enjoy for years to come.